Silvercrest Asset Management Group LLC Has $19.02 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Silvercrest Asset Management Group LLC lifted its stake in nCino, Inc. (NASDAQ:NCNO - Free Report) by 5.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 566,308 shares of the company's stock after purchasing an additional 27,524 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.49% of nCino worth $19,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Conestoga Capital Advisors LLC purchased a new stake in nCino during the fourth quarter valued at about $70,256,000. Amundi raised its holdings in shares of nCino by 312.1% during the fourth quarter. Amundi now owns 6,004 shares of the company's stock valued at $201,000 after acquiring an additional 4,547 shares during the period. Barclays PLC lifted its position in shares of nCino by 22.2% in the 3rd quarter. Barclays PLC now owns 73,014 shares of the company's stock valued at $2,306,000 after acquiring an additional 13,252 shares in the last quarter. KBC Group NV boosted its stake in nCino by 3,082.1% in the 4th quarter. KBC Group NV now owns 75,988 shares of the company's stock worth $2,552,000 after purchasing an additional 73,600 shares during the period. Finally, Northern Trust Corp boosted its stake in nCino by 14.1% in the 4th quarter. Northern Trust Corp now owns 612,902 shares of the company's stock worth $20,581,000 after purchasing an additional 75,592 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Stock Up 5.0%

NCNO traded up $1.28 during midday trading on Thursday, hitting $26.76. 1,068,966 shares of the company's stock traded hands, compared to its average volume of 1,473,949. The company has a market cap of $3.08 billion, a PE ratio of -157.49, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The stock's fifty day simple moving average is $24.72 and its 200-day simple moving average is $31.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last announced its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). The company had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. As a group, equities analysts anticipate that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino declared that its board has approved a stock buyback program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays cut their target price on shares of nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. KeyCorp reiterated a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Morgan Stanley reduced their price objective on nCino from $39.00 to $23.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. UBS Group set a $40.00 price objective on nCino in a research report on Friday, March 28th. Finally, Scotiabank upped their target price on nCino from $19.00 to $26.00 and gave the company a "sector perform" rating in a report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, nCino presently has a consensus rating of "Hold" and a consensus price target of $30.53.

Insider Buying and Selling at nCino

In other news, VP Jeanette Sellers sold 2,167 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $22.79, for a total transaction of $49,385.93. Following the completion of the transaction, the vice president now owns 27,108 shares of the company's stock, valued at approximately $617,791.32. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sean Desmond sold 7,880 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,376.80. Following the completion of the transaction, the chief executive officer now directly owns 298,597 shares of the company's stock, valued at approximately $6,228,733.42. This trade represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,060 shares of company stock worth $3,101,115 over the last ninety days. Company insiders own 28.40% of the company's stock.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.